Homeowners Association Annual General Meeting – April 23, 2018

Brook Meadows Homeowners Agenda Welcome Call to Order Quorum Check Introduction of Directors Reading of 2017/18 annual meeting minutes Election of Directors Review of 2017/18 budget and spending Presentation of 2018/19 budget Board Actions Committee Reports 2018

2017/18 Board of Directors Term Expires: President – Craig Vaughn 4/30/17 Vice President – John Schlachter 4/30/17 Secretary – Alice Elkins 4/30/17 Treasurer – Brandi Talabock 4/30/18 Director at Large – Carmen Ramirez 4/30/17 2018

Minutes from April 24, 2017 Annual Meeting Introduction: Craig Vaughn called the meeting to order. Quorum was declared with attendance and Proxies. Board members were introduced. Agenda was introduced. Minutes from previous meeting: Minutes from last year’s meeting were presented. Motion was made from the floor to approved previous year’s minutes. Motion was seconded and vote carried. 2018

Minutes from April 24, 2017 Annual Meeting Financial overview: Craig shared previous year’s spending vs. budget. Year-end reserve was reported at $35,784. Water costs came in substantially under budget. Street light budgeted funds were not used. Landscaping expense exceeded budget due to required tree trimming along Glade road. Street Light Project: The budget discussion also included the ongoing streetlight project. It was proposed to drop the initiative. Issues cited were expense, getting homeowner buy-in, new lights not matching old lights, etc. Mark Adams volunteered from the floor to make some calls to the city and advise the board on feasibility. 2018

Minutes from April 24, 2017 Annual Meeting Glade Road Project: A brief discussion ensued on the recent approval of the Glade road project. Committee Reports: Craig introduced all committees and their respective chairs. The audience was encouraged to join in committee work. The addition of the book and wine clubs have been well received. 2018

Minutes from April 24, 2017 Annual Meeting Landscape Coordination: Craig told group that the board would again seek bids for landscaping in 2017. Welcome Committee: Bridget Moore was announced as the new chair of this committee. Thank you Bridget! Real Estate Report: Craig showed area home values continuing to rise with Brook Meadows averaging $159 ft2. Notably, this was the lowest on the list this year – largely due to a specific large property that sold for $90 ft2. 2018

Minutes from April 24, 2017 Annual Meeting Board nominations: Craig indicated that the terms of all current board members (except Brandi Talabock) were up. He asked floor for nominations. A nomination was made from the floor to elect Alice Elkins to the board as an at-large member. Motion was seconded and carried unanimously. Thank you Alice! Current board members, Craig, John and Carmen all said they were willing to stay in service for another year. Budget approval: Budget for 2017 / 18 was proposed. Anticipated expenses were estimated to be just under $40,000 with $51,000 in estimated income. Motion was made to approve budget as presented. Motion was seconded and carried unanimously. 2018

Minutes from April 24, 2017 Annual Meeting Christmas Decorations: The budget discussion included proposed enhancements to the annual Christmas decorations at the Green Oaks entry. The board included a storage unit in the budget for the upcoming year, as the existing Christmas decorations have become a storage problem. Mark Adams volunteered from the floor to form a committee to investigate and make a recommendation to the board on new Christmas decorations. Fountain: Craig discussed the board’s recent decision to reduce expense by eliminating the water feature and make the fountain a planter. There were several questions from the floor, but no objections. 2018

Minutes from April 24, 2017 Annual Meeting Block Party: A discussion ensued on social events, and it was encouraged that the board consider bringing back the block party, as there are lots of new children in the neighborhood CC&R Enforcement: Craig introduced the new guidelines created for CC&R enforcement. A progressive fine structure has been put in place, and has been legally validated and filed with the State. A suggestion from the floor was made to hand distribute these guidelines to every door in the neighborhood. Certified mail was also introduced as a possible option. The board agreed to make a plan to distribute. 2018

Minutes from April 24, 2017 Annual Meeting Poor landscaping: Walter Aue encouraged the board to use the new fine structure to go after the houses that were not up to standard on landscaping. Craig discussed previous board efforts including personal visits. CC&R Enforcement: Craig introduced the new guidelines created for CC&R enforcement. A progressive fine structure has been put in place, and has been legally validated and filed with the State. A suggestion from the floor was made to hand distribute these guidelines to every door in the neighborhood. Certified mail was also introduced as a possible option. The board agreed to make a plan to distribute. 2018

Elections Four new board members needed! Two year term Volunteers / Nominations from the floor

Brook Meadows HOA– April 20, 2018 Finance report 2018

Finance Report 2018 /2019 2016/2017 Budget Actual Variance Income $51,125 $51,506 $381 Expense $34,420 $25,922 $8,498 Net Income $16,705 $25,584 $8.879 Utilities ran less than budgeted - water $8k Electricity $1k Street Light project deferred $3k. YE 3/31/17 Cash Balance $61,946

Finance Report 2017 / 2018 Landscaping Review For the year ending 3/31/2017 03/31/2018 Landscaping Budget $15,000 Actual Spend $18,324 $13,784 Variance (Over)/Under $(3,324) $1,216

Brook Meadows Homeowners Budget Proposal 2018/19 2014/15 2015/16 2016/17 2017/18 2018/19 Actual Budget Income $58,695 $46,224 $51,125 $51,506 Expense $76,462 $37,308 $44,820 $25,922 $43,020 --without construction $37,077 Net Income/(Loss) ($17,767) $8,916 $6,305 $25,584 $8,105

2018/19 Budget Detail Income 2018-2019 Budget Comments Current Year Dues $50,625 135 homes @ $375/home Resale $500 5 homes @ $100 Total Income $51,125 Expenses Administrative $6,120 CPA, Meetings, Postage, Website Improvements $0 Committees $24,900 Landscape, Fountain, Communications Insurance $2,500 Legal & Professional $5,000 Utilities $4,500 Electricity, Water Total Expense $43,020 Net Income/(Loss) $8,105

Items Impacting 2018/19 Budget Web Site Landscaping services Holiday lighting Legal Fees

Committee Reports

Welcome to Brook Meadows! Each new neighbor is personally welcomed by Bridget Moore 9 neighbors welcomed in 2017 1 neighbor welcomed so far in 2018 Each new neighbor receives: A unique basket filled with local “Tex-Mex” goodies The latest Brook Meadows directory An overview of our neighborhood goings-on An introduction of their family published in the Brook Meadows Messenger newsletter

Social Committee Halloween Parade with Colleyville Fire Department Fall Patio Party Ladies Ornament Exchange Toy Drive/ Train Exhibit with Stan Pirzchalski Holiday Party Garage Sales for Fall and Spring (May 6th this year) Last Tuesdays (May 30 at Dallas Craft)

Book Club / wine club

Architectural Review Committee (ARC) Report In 2017 there were 8 PMR applications filed with the ARC. All requests were approved in 2.5 days or less Problems with getting forms from website (under construction) Please complete a PMR as appropriate if you are planning any property modifications

Come join us at an event this year! Last Tuesday A special shout out to Brett Flournoy for his dedication to our Last Tuesday gatherings This is a unique BM function that allows folks to gather, socialize and get to know one another while supporting a local restaurant In 2017 Brett organized a Men’s “BS” exchange at Ron’s Tavern in Bedford. This was the male equivalent of the ladies ornament exchange and was a big success. It will be repeated in 2018. Come join us at an event this year!

Landscape Coordination Walter Aue is our coordinator on landscape issues. The board has asked Walter to seek bids for landscape services in 2018.

Electronic Newsletter Thanks to Brad Jensen for taking on the role of editor and to all those who contribute If anyone has items they want to communicate to the neighborhood you can do this via our monthly newsletter Articles of a general nature, advising of neighborhood or Colleyville functions, etc. are encouraged.

Brook Meadows Real Estate Report Brook Meadows 2017 $/square foot on sold properties once again surpassed all surrounding neighborhoods. 2014 2015 2016 2017 Sub-Division # Sold Price/sq ft Brook Meadows 12 $143.16 8 $152.34 7 $139.18 $161.02 Ashmore 5 $131.40 6 $143.35 $155.91 $156.24 Summertree $133.96 $144.96 $152.98 $ 154.77 Summerbrook 2 $141.09 1 $147.22 4 $196.16 3 $159.26 Woodland Hills 31 $126.07 24 18 $148.14 21 $150.60

Brook Meadows Real Estate Report In 2017 Brook Meadows also lead the area with sales made closest to asking price. Average Sub-Division # Sold % of asking Sale price Brook Meadows 7 98.85% $ 735,071 Ashmore 5 96.36% $ 719,900 Summertree 8 97.31% $ 644,938 Summerbrook 3 96.64% $ 591,330 Woodland Hills 21 98.26% $ 499,400

Adjourn Thanks for keeping Brook Meadows an outstanding neighborhood!